Can this be done by physics in Blender?
This is definetiley possible. 

I can recommend to check out Curtis Holt's Video on Cloth Simulation in Blender 2.8 The effect you want to have is definetly doable.

https://www.youtube.com/watch?v=bAswwNpfe0U&amp;t=0s&amp;list=LL_vK2be21gQ3oN11drA3XBA&amp;index=8

You would have to start by modelling your base structure and the plastic in the state of "not stretched out".